Quantcast

Rockford Sun

Monday, December 23, 2024

Former state school employee Sundberg paid in $168K to teachers' pension fund, could collect $3.35M in retirement

Shutterstock 434242897

Former state school employee Marybeth Sundberg, who retired in May 2017, saved $167,702 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sundberg would collect as much as $3.35 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Sundberg received $70,450 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sundberg will have already received $217,755 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS